Sarabeth Barthle-Simmons
Sarabeth Barthle-Simmons
Sarabeth Barthle-Simmons
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Ranching Family Perspective● In 1971, Great Grandfather died at age 86– Owed $1 million; ranch gross income ~ $200K/year– 9 months deadline to pay death tax to IRS● Last 3 years of transfers were assessed to be“contemplation of death”– Considered “taxable” by IRS– IRS said we owed additional $170K● Mother Nature is uncertain enough –government tax code is additional uncertainty